Chart 4. Delinquency Rates on Subprime and High Loan-to-Value Mortgages Far Exceed Rates for Prime Conventional Loans

Percent of loans 90 days or more past due
  Subprime FHA VA Prime
Conventional
1998 1.31 1.30 1.25 0.33
  1.32 1.37 1.26 0.32
  1.25 1.42 1.29 0.32
  1.34 1.44 1.28 0.30
1999 1.30 1.50 1.28 0.30
  1.10 1.50 1.24 0.27
  1.20 1.52 1.22 0.27
  1.30 1.48 1.19 0.25
2000 1.23 1.48 1.17 0.25
  0.99 1.57 1.23 0.24
  1.19 1.57 1.16 0.25
  1.43 1.81 1.30 0.26
2001 1.26 1.94 1.36 0.28
  2.02 2.09 1.45 0.30
  2.32 2.19 1.51 0.32
  2.57 2.25 1.54 0.33
2002 2.70 2.14 1.50 0.35
  3.33 2.40 1.62 0.40
  3.30 2.50 1.67 0.41
  3.31 2.39 1.65 0.43
2003 3.38 2.34 1.64 0.44

Source: Mortgage Bankers Association of America